'Our projects will have a lasting impact on people'

Dubai: Samira Abdul Razzak became the youngest UAE national female chief executive last December when she was named the chief executive officer of Dubai Infinity Holding (DIH), a company launched by a group of private investors late last year.

She is a young professional with burning ambitions who thrives to do a lot of things that will complement the future growth of Dubai.

Since her appointment, she has launched a number of initiatives that could have a far-reaching positive impact in future.

Samira's vision is to do something different, which others did not venture into. Her comments could inspire other young Emirati entrepreneurs in the coming days.

"I want to do something different, unconventional. We want to invest in unique projects and concepts - such as entertainment, fashion concepts etc," Samira says.

"Knowledge and innovation is the key to our future growth in a complex global economy.

"We have already launched the Fashion Islands - Isla Moda - on The World. No one has thought of such a concept. So, what we are going to do in future, will be signature projects and different."

On June 10, Samira, a former banker, signed a deal with India's Yash Raj Films to roll out a Bollywood theme park in the UAE, while the rest of the country was going after Hollywood - in line with her vision to bring in unique projects to the UAE.

Samira spoke at length on her plans at an exclusive interview with Gulf News. Excerpts:

Gulf News: You have recently signed up with India's Yash Raj Films to roll out a theme park based on Bollywood movies, while the rest of the country is trying to lure Hollywood studios. What inspired you in going east?

Samira Abdul Razzak: About 52 per cent of the UAE's population are from South Asia. The Asian and Indian entertainment industry is worth $200 billion, rising to $1.8 trillion by 2015. This sector is growing at 19 per cent per annum. So, we thought why not bring the Bollywood flavour to the people of the UAE and Gulf who will taste the South Asian flavour in the theme park that will highlight the legends of Bollywood.

Foreign direct investment into Indian entertainment industry is going up. India produces more than 1,000 movies a year compared to 500 in Hollywood and 100 in China. People in more than 120 countries watch Indian movies.

The project will be an affordable family entertainment destination. People with lower income can also avail fun and entertainment.

This will complement the vision of His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, in creating attractions for Dubai. This also falls in line with our philosophy to be different and develop unique projects. The project will cater to two million visitors annually. Its first phase will be completed by 2012.

How did it happen? Did you know Yash Chopra?

Well, it just happened. We have some connections with India. We were looking to develop an Indian theme park as there is a huge fan following. Some Indian stars are now global names. Geographically we are so close. Then we stuck a deal for the project.

What about the Fashion Islands? Could you kindly update our readers on the islands?

It is currently at the conceptual design phase, following which a detailed architectural design will be finalised before we go into tendering and construction. We are bringing five top designers to work in various aspects of the project. There will be 300 luxury residential units and a 100-key boutique hotel, spread across nine hectares on one of the 300 islands The World. We hope to break ground around mid-next year.

Why are your projects different from others? What are the thoughts behind these?

We look at long-term investment propositions. Projects that add value to the economy and society, we are after those. Each of our projects will have a lasting impact on people. Besides, what signifies our projects is the uniqueness of these projects.

How do you come up with these ideas?

We develop our own ideas. However, you will see in future, we will export ideas, not borrow them. We have our own people to develop ideas. My biggest strength is my people, the talents that we have within the company.

Talking about human resources, could you explain the Style 7 concept you have launched recently?

DIH recently launched the first of its kind UAE national women's leadership programme.

The initiative, named Style 7, aims to cultivate the next generation of UAE women in business and appoint them into key leadership positions within Dubai Infinity Holdings, as well as to sustain merging talent in the region.

The programme will merge hands-on field experiences, exposing the women to international best practices in the seven categories of architecture, project management, marketing, engineering, hospitality management, development, interior design, and give candidates the opportunity to be closely mentored by the CEO.

This initiative is in line with the strategic vision of Shaikh Mohammad and his Vision 2015 plan, which highlights the need for women to be encouraged and assume key leadership positions which will contribute to the socio-economic development of the UAE.

Style 7 was launched on June 22. Potential candidates can register on www.style7.ae. The first 50 selected will be announced in mid-October, the final seven will be selected in December and will receive Dh350,000. They will be exposed to four months intense hands-on training and experience before the top achievers enter the 18 Month Leadership programme for DIH.

How many projects do you plan to roll out in the first few years?

For the first three years, we want to consolidate our position in the UAE markets and I am looking at about three projects. Following this, we will invest in emerging markets.

What are the areas you want to focus?

Information technology, education, healthcare, lifestyle, real estate and entertainment are the potential strategic sectors.

How do you foresee the development of DIH's corporate growth? Organic or through acquisitions?

We want to grow organically. That does not mean we will keep out from acquisitions. In future, as we grow, we will roll out subsidiaries and business units.

When do you plan to float DIH, if at all?

That's a long term possibility, not in the immediate future. Right now, we want to exceed our shareholders' expectation.

Profile: Strong background

Samira Abdul Razzak, chief executive of Dubai Infinity Holding, comes from a very strong background.

Following her education, she was a senior manager with HSBC leading its human resources and trade finance operations. Later she joined leading mortgage lender Tamweel and worked as a business development manager.

Last December, she became the first UAE national female CEO, when she was named chief executive of Dubai Infinity Holding.